Ameresco initiated with a Hold at Jefferies

Jefferies analyst Dushyant Ailani initiated coverage of Ameresco with a Hold rating and $33 price target. The analyst sees credibility as the “biggest hurdle” for Ameresco, saying downward revisions on EBITDA guidance, project delays, and uncertainty around performance next year leave the firm cautious “on what exactly is feasible.” Near-term uncertainty is offset by a history of solid growth, which drives the stock’s risk/reward as fairly balanced, the analyst tells investors in a research note.